Walleye Capital LLC Acquires 17,341 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Walleye Capital LLC lifted its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,839 shares of the industrial products company’s stock after buying an additional 17,341 shares during the period. Walleye Capital LLC’s holdings in Ituran Location and Control were worth $1,397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITRN. JPMorgan Chase & Co. boosted its position in Ituran Location and Control by 58.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 14,527 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Ituran Location and Control during the fourth quarter valued at $835,000. Barclays PLC lifted its holdings in shares of Ituran Location and Control by 132.1% during the third quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 4,400 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Ituran Location and Control by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company’s stock worth $8,553,000 after purchasing an additional 56,956 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Ituran Location and Control in the fourth quarter valued at $207,000. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays increased their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Ituran Location and Control Stock Performance

Shares of ITRN stock opened at $33.44 on Friday. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The stock has a 50 day simple moving average of $36.85 and a two-hundred day simple moving average of $32.34. The company has a market cap of $665.26 million, a P/E ratio of 12.81 and a beta of 0.90.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $81.81 million.

Ituran Location and Control Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.50 per share. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date was Thursday, March 20th. Ituran Location and Control’s dividend payout ratio (DPR) is currently 73.80%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.